GBP/JPY
Today, Wednesday, at 1344 EDT, this pair reversed trend with a 1 second spike up 80+ pips. Does anyone know what news caused this?
BTW, I posted this in the GBY/JPY group but it doesn't appear anyone is using the Groups. Why not?
cheers,
jim
BTW, I posted this in the GBY/JPY group but it doesn't appear anyone is using the Groups. Why not?
cheers,
jim
Views: 6
Replies to This Discussion
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Permalink Reply by Mister H on
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While I cannot say for certain, I noticed there were huge volatility spikes at that time in all the yen pairs.....as well as in the broader US equity indexes. I believe they may be related to the news that Warren Buffet annouced a large investment in GE.........similarly structured to the Goldman deal........GE is part of the Dow of course. Anyway, the new was released at 13:44 EST, is obviously perceived as bullish, and the markets responded in kind. Just my 2 cents.....
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Permalink Reply by Jim on
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It was either the Warren Buffet and GE deal or the rumor in Europe of a $400B rescue fund there - something caused it but the trend has not continued downward since the rumor in Europe was denied. I don't understand why the GE deal would have some much impact on GBP/JPY pair.
Oh well...
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